Palladium Wave Analysis – 07 February, 2020

• Palladium reversed from resistance area
• Likely to fall to 2155.00

Palladium recently reversed down with the daily Evening Star from the resistance area lying between the key resistance level 2400.00 and the upper daily Bollinger Band.

The downward reversal from this resistance area started the active short-term corrective wave (ii).

Palladium is likely to fall further toward the next support level 2155.00 (low of the previous correction 4 and target price for the completion of the active wave (ii)).